- In section 194LC of the Income-tax Act, in sub-section (2),-(a)in clause (i), with effect from the 1st day of April, 2018,-(A)in sub-clauses (a) and (c), for the figures, letters and words "1st day of July, 2017", the figures, letters and words "1st day of July, 2020" shall be substituted;(B)in the long line, for the word "and", the word "or" shall be substituted;(b)after clause (i), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2016, namely:-"(ia) in respect of monies borrowed by it from a source outside India by way of issue of rupee denominated bond before the 1st day of July, 2020, and".
